...- French environmental and energy group Veolia Environnement S.A. (Veolia) presented its four-year strategic plan, which is broadly in line with the one presented last year. Veolia intends to accelerate investments to about 4 billion per year to fuel organic growth and earmarks 500 million, net of strategic asset sales, on medium-sized debt-funded acquisitions per year. - We anticipate positive discretionary cash flow generation over the planning horizon, thanks to disciplined investments and the group's focus on profitable growth in water, waste, and energy. We view Veolia's liquidity as strong. - We affirmed our '###' long-term issuer credit rating on Veolia. - The stable outlook indicates our view that credit metrics will remain at levels that are consistent with our '###' rating, with S&P Global Ratings-adjusted funds from operations (FFO) to debt of about 21%-22%, a contained debt increase that totals about 3 billion over 2004-2026, and debt to EBITDA just above 3.5x....
